Dubai Global Chamber, one of the most 3 chambers running below the umbrella of Dubai Chambers, has effectively concluded its week-long business project to Southeast Asia through arranging 180 bilateral industry conferences between firms from Dubai and Vietnam.
The business project was once organised as a part of the ‘New Horizons’ initiative spearheaded through Dubai Global Chamber, which goals to force the world enlargement of Dubai-based companies in focused high-potential markets.
The delegation collaborating within the business project featured representatives from 17 firms running in Dubai throughout a numerous dimension of sectors, together with meals and drinks, building, healthcare, data generation, environmental answers, human useful resource control, and perfumes and cosmetics.
The project seeks to form at the important building up in non-oil bilateral business between Dubai and Vietnam all through 2023, which accomplished year-over-year expansion of 12.2% to succeed in a price of AED 31.7 billion. Non-oil bilateral business stood at AED 28.2 billion in 2022, consistent with Dubai Customs knowledge. As of the top of latter 12 months, a complete of 118 Vietnamese firms had been registered as participants of Dubai Chamber of Trade.
The primary pace of the Vietnam leg of the project featured a different industry discussion board in Ho Chi Minh Town titled ‘Doing Business with Vietnam,’ which was once organised through Dubai Global Chamber with the backup of the Embassy of the United Arab Emirates in Hanoi and in partnership with Vietnam’s Ministry of Overseas Affairs and the Funding & Industry Promotion Centre (ITPC) of Vietnam. The insightful discussion board was once attended through 238 VIP officers, industry leaders, and Vietnamese firms fascinated by exploring partnership alternatives with participants of the chamber’s delegation.
Right through his opening remarks, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, highlighted the robust business and funding alternatives in Vietnam. His Excellency mentioned: “Vietnam holds tremendous growth potential thanks to the country’s favourable economic policies, strong infrastructure, skilled workforce, and strategic location. We are also confident that the upcoming Comprehensive Economic Partnership Agreement with Vietnam, as well as our international representative office and trade missions, will significantly strengthen our joint trade relations.”
His Excellency Dr. Bader Almatrooshi, Ambassador of the United Arab Emirates to the Socialist Republic of Vietnam, commented: “The relationship between the UAE and Vietnam has been witnessing important developments such as the exchange of more than 50 delegations in various fields last year, including meetings between leaders of the two countries and trade delegations. The UAE is also Vietnam’s first trade partner in our region for non-oil products, with an exchange exceeding US$ 8 billion.”
His Excellency added: “The trade forum and accompanying events organised by Dubai International Chamber in Ho Chi Minh City are a clear example of the UAE’s desire to seize the opportunities and strengthen trade and investment partnerships with Vietnam, and we look forward to achieving tangible results.”
Mr. Nguyen Van Dung, Vice Chairman of the Ho Chi Minh Town Public’s Committee within the Socialist Republic of Vietnam, mentioned that Vietnam is the UAE’s biggest financial spouse within the ASEAN patch, and that the UAE may be Vietnam’s biggest business spouse within the Center East and North Africa patch.
The Vice Chairman of the Ho Chi Minh Town Public’s Committee highlighted alternatives for Vietnam to get pleasure from the UAE’s wisdom and experience in sectors together with pristine and renewable power, logistics, finance, and banking. He additional emphasized the remarkable function Vietnam can play games in catering to the rising call for within the UAE for merchandise in sectors the place Vietnam has aggressive benefits comparable to agricultural and fishery merchandise, processed meals, textiles, clothes, leather-based and shoes, electronics, equipment, and gear, in addition to supporting meals safety within the UAE.
Dubai Global Chamber has recognized a dimension of sectors that trade in export alternatives to Vietnam for Dubai-based firms, together with meat; drinks; espresso and spices; and cosmetics and perfumes. Prime-potential import alternatives from Vietnam to Dubai exist within the furnishings sector, nuts, tropical end result, and occasional sectors. Essentially the most promising sectors for funding in Vietnam come with sustainable agriculture, building, tourism, and the meals business.
Right through his participation within the Industry Discussion board, Salem Al Shamsi, Vice President of International Markets at Dubai Chambers, delivered an informative presentation on Dubai’s financial terrain and defined the diverse aggressive benefits the emirate do business in for Vietnamese enterprises.
The development additionally featured a panel dialogue, which introduced in combination professional audio system from key financial sectors in Vietnam. The consultation equipped worthy insights on doing industry in Vietnam, with audio system sharing their reviews within the native industry shape.
This was once adopted through a layout of bilateral industry conferences between representatives of businesses from Dubai and Vietnam. The second one pace of the project endured with extra bilateral industry conferences, in addition to web site visits with a number of Vietnamese firms.
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